Ripple CEO Brad Garlinghouse Shares Views on China’s Cryptocurrency and Facebook’s Libra

The leading US-based cryptocurrency network and token, Ripple recently garnered limelight because of the interesting statements given by its CEO, Brad Garlinghouse, during his interview on Fox Business. The spearhead gave some crucial inputs concerning the two most highly-anticipated and controversial projects- China’s native cryptocurrency and Facebook’s Libra.

While speaking about China unleashing a new digital network with the launch of its digital coin, Brad said that it is an alarming step for the United States as the launch of China’s cryptocurrency will place it in a better position in comparison to other countries. He added that the US has always been a leader setting trends for the world to follow and profounder of technologies in every possible domain and so it should come up with strong leadership to explore the new-age technology as well.

Brad, when asked if China’s cryptocurrency is likely to put US Dollars in jeopardy, said that the US leaders should not weigh crypto on one ground only. He stated that the US should not blindly believe in the accusations popping up in the market about crypto lubricating illicit activities rather should try to explore the real benefits of the digital currency arena. As per Brad, China has realized the potential of the virtual currencies, and so is adamant about taking strong steps in the field at the earliest. He even remarked that Ripple is not trying to overshadow the worth of the US Dollar but is trying to reduce the friction existing.

Libra right now is just a whitepaper. Recent privacy issues could prevent Libra adoption, said Brad in the Q&A session. He stated that Libra was not set up with optimal success. In his discussion about the XRP’s lagging condition, he blamed the US government for the unfortunate outcome. He said that he prefers seeing the bigger picture of XRP rather than the two weeks or two months figures.

He shared his views on the existence of Bitcoin’s creator, Satoshi Nakamoto, by saying that Bitcoin is likely to be a joint effort of two-three people, and Satoshi Nakamoto is the “moniker” for the group.

Brad said that he sees the cryptocurrency niche as a strong network that will shine as a medium, ensuring transparency and reliability for the users.